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Bloomberg
Apr 30, 2014 8:00am EDT
? >> in a word, the indications are drought. in malaysia, the world's is top producers of palm oil receive less than two inches of rain in the first three months of the year in some areas. that is the driest spell for the area since 1997. the dry conditions actually stressed palm fruit, which are crushed to make palm oil. some meteorologist project el niÑo may occur as early as july, parsed even more farms in australia, further reducing the palm oil supplies. qwest the dreaded el niÑo strike forhat could this mean prices and palm oil? >> concerns about tighter supplies and cost rising demand sent palm oil futures to an 18 month high in march. increasing costs for top importers, india and china. all models survey by the australia bureau of meteorology indicates el niÑo is likely this year. he outlook is not good. goldman sachs listed palm oil among the most vulnerable crops should an el niÑo event occur. >> if prices for palm oil do stay high, i assume some companies hedge for this kind of thing. what kind of impact could they have on the bottom line? >> it will be an impact, it sounds like,
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